Horizon Investments LLC Cuts Stake in United Rentals, Inc. $URI

Horizon Investments LLC reduced its position in United Rentals, Inc. (NYSE:URI) by 44.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,008 shares of the construction company’s stock after selling 1,599 shares during the quarter. Horizon Investments LLC’s holdings in United Rentals were worth $1,625,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Gleason Group Inc. grew its holdings in United Rentals by 4.3% in the fourth quarter. Gleason Group Inc. now owns 269 shares of the construction company’s stock worth $218,000 after purchasing an additional 11 shares during the last quarter. Bridgewater Advisors Inc. grew its holdings in United Rentals by 1.2% in the fourth quarter. Bridgewater Advisors Inc. now owns 967 shares of the construction company’s stock worth $783,000 after purchasing an additional 11 shares during the last quarter. Great Valley Advisor Group Inc. grew its holdings in United Rentals by 2.9% in the second quarter. Great Valley Advisor Group Inc. now owns 387 shares of the construction company’s stock worth $292,000 after purchasing an additional 11 shares during the last quarter. Opal Wealth Advisors LLC grew its holdings in United Rentals by 2.7% in the third quarter. Opal Wealth Advisors LLC now owns 450 shares of the construction company’s stock worth $430,000 after purchasing an additional 12 shares during the last quarter. Finally, Howard Capital Management Inc. grew its holdings in United Rentals by 3.1% in the third quarter. Howard Capital Management Inc. now owns 395 shares of the construction company’s stock worth $377,000 after purchasing an additional 12 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on URI. Barclays boosted their price objective on shares of United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a report on Friday, April 24th. KeyCorp boosted their price objective on shares of United Rentals from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of United Rentals in a report on Monday, April 20th. Citigroup boosted their price objective on shares of United Rentals from $950.00 to $1,130.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Morgan Stanley reissued an “overweight” rating and set a $1,030.00 price objective on shares of United Rentals in a report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, United Rentals presently has a consensus rating of “Moderate Buy” and an average price target of $986.35.

Insider Buying and Selling at United Rentals

In other United Rentals news, VP Andrew B. Limoges sold 548 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $977.86, for a total value of $535,867.28. Following the completion of the transaction, the vice president owned 1,865 shares in the company, valued at approximately $1,823,708.90. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the transaction, the executive vice president owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. This trade represents a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,088 shares of company stock valued at $25,628,877 in the last three months. Company insiders own 0.47% of the company’s stock.

United Rentals Price Performance

NYSE:URI opened at $933.61 on Wednesday. United Rentals, Inc. has a one year low of $645.18 and a one year high of $1,021.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.74 and a current ratio of 0.80. The firm has a market cap of $58.49 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.47 and a beta of 1.83. The firm’s fifty day moving average is $802.64 and its two-hundred day moving average is $839.47.

United Rentals (NYSE:URI) last posted its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing the consensus estimate of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the company posted $8.86 earnings per share. United Rentals’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts expect that United Rentals, Inc. will post 46.99 EPS for the current year.

United Rentals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 13th. United Rentals’s dividend payout ratio is presently 20.10%.

United Rentals declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the construction company to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

United Rentals Profile

United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.

The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.